Adams Wealth Management grew its holdings in Principal Financial Group, Inc. (NASDAQ:PFG – Free Report) by 13.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,204 shares of the company’s stock after purchasing an additional 1,565 shares during the period. Adams Wealth Management’s holdings in Principal Financial Group were worth $981,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Principal Financial Group by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 29,028,108 shares of the company’s stock worth $2,130,953,000 after acquiring an additional 150,598 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Principal Financial Group by 9.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,910,405 shares of the company’s stock worth $412,081,000 after acquiring an additional 406,684 shares in the last quarter. Morgan Stanley raised its position in Principal Financial Group by 67.3% in the 4th quarter. Morgan Stanley now owns 4,514,124 shares of the company’s stock valued at $378,825,000 after purchasing an additional 1,816,343 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Principal Financial Group by 1.1% in the 1st quarter. Northern Trust Corp now owns 4,113,693 shares of the company’s stock valued at $301,986,000 after buying an additional 43,319 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Principal Financial Group by 3.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,827,318 shares of the company’s stock valued at $321,230,000 after buying an additional 118,518 shares during the period. Institutional investors and hedge funds own 74.58% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on PFG shares. Bank of America cut Principal Financial Group from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $81.00 to $78.00 in a research note on Monday, May 1st. Keefe, Bruyette & Woods upgraded Principal Financial Group from an “underperform” rating to a “market perform” rating and decreased their price objective for the company from $77.00 to $75.00 in a research note on Thursday, June 8th. Wells Fargo & Company started coverage on Principal Financial Group in a research note on Tuesday, April 25th. They issued an “equal weight” rating and a $79.00 price objective for the company. Royal Bank of Canada decreased their price objective on Principal Financial Group from $88.00 to $83.00 in a research note on Monday, May 1st. Finally, Piper Sandler lifted their price objective on Principal Financial Group from $75.00 to $82.00 in a research note on Friday, July 7th. Five investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $77.15.
Principal Financial Group Price Performance
Shares of NASDAQ:PFG traded down $0.90 on Thursday, hitting $83.20. The company had a trading volume of 1,272,146 shares, compared to its average volume of 1,606,140. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.46. Principal Financial Group, Inc. has a 52-week low of $63.48 and a 52-week high of $96.17. The business has a 50 day moving average of $74.40 and a 200 day moving average of $72.72. The company has a market cap of $20.20 billion, a PE ratio of 5.00, a PEG ratio of 1.46 and a beta of 1.30.
Principal Financial Group (NASDAQ:PFG – Get Free Report) last issued its quarterly earnings data on Thursday, April 27th. The company reported $1.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.54 by ($0.06). Principal Financial Group had a net margin of 24.97% and a return on equity of 16.04%. The company had revenue of $3.44 billion during the quarter, compared to analysts’ expectations of $3.22 billion. As a group, equities analysts anticipate that Principal Financial Group, Inc. will post 6.67 earnings per share for the current fiscal year.
About Principal Financial Group
Principal Financial Group, Inc provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. The company operates through Retirement and Income Solutions, Principal Global Investors, Principal International, and U.S. Insurance Solutions segments.
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